Mumbai, March 7, 2018 (GPN) : The Initial Public Offering of Tara Chand Logistic Solutions Ltd. will open public subscription on March 13, 2018. The Public Issue is of 37,20,000 equity shares of face value of Rs. 10 each for cash at a price Rs. 55.00 per equity share aggregating Rs. 2046.00 lakhs. The Issue comprises of 1,92,000 equity shares aggregating to Rs. 105.60 lakhs reserved for subscription by the market maker of the Issue. The net issue for public will be for 35,28,000 equity shares aggregating to Rs. 1940.40 lakhs. The Issue and Net Issue will constitute 27.27% and 25. 86% respectively of the post-Issue paid-up equity share capital of the Company. The Issue is scheduled to close on March 15, 2018. Hem Securities Limited is the Lead Manager to the IPO.
Tara Chand Logistic Solutions Ltd. is a Mumbai based company and is engaged in providing reliable and affordable logistic and supply chain services including Transportation and Warehousing, Equipment Rental and Steel Processing and Distribution. As of December 31, 2017, its transportation fleet included 42 owned trailers and our equipment rental fleet included 292 owned cranes ranging from 10 MT-800 MT lifting capacity. The Company owns automated steel processing machineries like shear line, twin master, robo master, compressor, decoiling machines etc. totaling to 32. The warehousing division has handled 1.5 million MT of steel in nine months upto December 31, 2017. Tara Chand Logistic Solutions Ltd. also provides services through equipment hired as and when required, to provide timely and quality services to its clients.
The major clientele includes Reliance industries ltd., Larsen & Toubro Ltd. (seven Independent Companies), Steel Authority of India Ltd., Rashtriya Ispat Nigam Ltd., Oil and Natural Gas Corporation Ltd., Tata Projects Ltd., Hindustan Construction Company Ltd., Vedanta Ltd., J Kumar Infraprojects Ltd., NCC Ltd., Welspun Corp, ITD Cementation India Ltd., Bharat Heavy Electricals Ltd., Gayatri Projects Ltd, Megha Engineering & Infrastructures Ltd. Tara Chand Logistic Solutions Ltd. has 1167 employees as of December 31, 2017. The Order Book, comprising anticipated revenues from the unexecuted portions of existing contracts (including signed contracts for which all pre-conditions to entry into force have been met and letters of acceptance issued by the client prior to execution of the final contract) as of January 30, 2018 was Rs. 154.24 Crores.
The total revenue of Tara Chand Logistic Solutions Ltd. has increased from Rs. 2,258.67 lakhs for Fiscal 2013 to Rs. 5265.07 lakhs in Fiscal 2017 at a Compound Annual Growth Rate (CAGR) of 23.56% while, our net profit as restated has increased from Rs. 55.96 lakhs in Fiscal 2013 to Rs. 262.97 lakhs in Financial Year 2017 at a CAGR of 47.23%.
True to its company slogan ―Think New Act Now, it have always strived toward innovative and ground breaking approach in providing services to clients. It introduced A.C. Cabins, GPS and rear view camera in New Generation Pick and Carry cranes. It has also introduced password protected Safe load Indicator systems in these cranes.ENDS